Category: Business & Markets

How Major US Stock Indexes Fared July 11

Stocks closed higher on Wall Street as investors wait for updates on inflation and corporate profits. The S&P 500 rose 0.7 percent Tuesday after another quiet day of trading. The Dow rose 316 points, or 0.9 percent, and the Nasdaq composite rose 0.6 percent. The week’s main event arrives Wednesday when the government offers the…


Construction Costs Slow to Lowest Rate Since Pandemic

Rising construction costs have slowed for the first time in two years as a drop in new home builds eases demand for materials and labour. The cost of building a home or renovating recorded its lowest average increase last month since September 2020, with potential knock-on effects for the housing market and inflation. The national quarterly…


Australia and Europe to Continue FTA Negotiations as Trade Deal Stumbles

Australia and the European Union have failed to conclude talks on a planned free trade agreement, the European Commission says. The EC statement followed comments from Prime Minister Anthony Albanese that any deal would need to give Australian farmers’ goods, especially beef and sheep meat, more access to the bloc. “We’ll continue to argue the case…


Michigan Hair Salon Says People Pushing Trans Pronouns Are ‘Not Welcome’

A conservative hair salon that vows “not to cater to woke ideologies” has pledged to turn away any potential customer who does not identify as either a man or a woman, triggering opposition from local LGBT activists and fueling online debate. The Traverse City-based Studio 8 Hair Lab said in a now-deleted post on Facebook that, as…


More Job Cuts Hit Microsoft Workers After Massive January Layoffs

Microsoft announced a new round of job cuts internally on July 10 after laying off 10,000 employees between January and March. The company confirmed the layoffs to GeekWire, which broke the news first but did not provide any further details. “Organizational and workforce adjustments are a necessary and regular part of managing our business. We…


Sen. Manchin Accuses Court of ‘Unlawful’ Conduct by Blocking Pipeline Construction in West Virginia

A natural gas pipeline being built in West Virginia has been blocked once again by a federal appeals court siding with environmental groups despite Congress giving the project a green light, drawing the ire of Sen. Joe Manchin (D-W.Va.), who accused the court of unlawful conduct. The 4th Circuit Court of Appeals issued a stay…


Apple Suddenly Pulls Emergency Update for iPhone Users

Apple issued new emergency updates to address a “zero-day” exploit that was being used to launch attacks on iPhones, iPads, and Mac computers, but it said a day later that the updates are causing some websites to not display properly and suggested users remove it. According to Apple support documentation posted on Tuesday, the company is…


US Judge Rules Microsoft Deal to Buy Activision Can Go Forward

A U.S. judge ruled on Tuesday that Microsoft can proceed with its planned acquisition of videogame maker Activision Blizzard for $69 billion after the European Union (EU) approved the deal between the two gaming companies. Britain’s Competition and Markets Authority (CMA) objected to the deal in April, arguing that it hurts consumers and that it was…


Major Automakers React Negatively to EPA’s ‘Overly Optimistic’ Electric Vehicle Push

Multinational carmakers Stellantis and Toyota criticized the U.S. Environmental Protection Agency’s (EPA) “extreme” plans to promote vehicle electrification, which they warn is unrealistic and gives rise to a host of issues, including an increase in mining. On April 12, the EPA announced new rules aimed at cutting down greenhouse gasses and other pollutants in motor…


Major Automakers Criticize EPA’s ‘Extreme’ Electric Vehicle Push

Multinational carmakers Stellantis and Toyota criticized the U.S. Environmental Protection Agency’s (EPA) “overly optimistic” plans to promote vehicle electrification, which they warn is unrealistic and gives rise to a host of issues, including an increase in mining. On April 12, the EPA announced new rules aimed at cutting down greenhouse gasses and other pollutants in…